A tax expenditure program is government spending through the tax code. Tax expenditures alter the horizontal and vertical equity of the basic tax system by allowing exemptions, deductions, or credits to select groups or specific activities. For example, two people who earn exactly the same income can have different effective tax rates if one of th...
Found on
http://en.wikipedia.org/wiki/Tax_expenditure
(from the article `income tax`) Preferential treatment can be extended to selected private activities in either of two ways: tax revenues can be collected and then spent to support ...
Found on
http://www.britannica.com/eb/a-z/t/17
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